External broker reports(aggregated public sources), Topline Securities

Topline Securities

External broker reports(aggregated public sources)

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

Consumer Price Index (CPI) inflation for Dec 2016 stood at 3.7% YoY as compared to 3.8% in Nov 2016. Inflation remained below market expectations. On MoM basis, inflation declined by 0.68%, which is a 22-month low, as against an increase of 0.2% in previous month, on the back of significantly lower food inflation. Food inflation that contributes around 35% to the total headline CPI inflation was up 2.4% YoY in Dec 2016 vs. 2.5% in Nov 2016. On MoM basis, food inflation declined by 2.3%, which is…

Consumer Price Index (CPI) inflation for Dec 2016 stood at 3.7% YoY as compared to 3.8% in Nov 2016. Inflation remained below market expectations. On MoM basis, inflation declined by 0.68%, which is a 22-month low, as against an increase of 0.2% in previous month, on the back of significantly lower food inflation. Food inflation that contributes around 35% to the total headline CPI inflation was up 2.4% YoY in Dec 2016 vs. 2.5% in Nov 2016. On MoM basis, food inflation declined by 2.3%, which is…

Frontier and emerging markets (Vietnam)

Dylan Waller

Nomadic Equity

As with most frontier markets that I have observed, investing in companies in the consumer discretionary/staples sector offers the most rewarding opportunity, yet the majority of stocks in this industry have above average valuation.  Extra effort is needed to filter to find stocks in this sector that have reasonable valuation.  Pakistan is an extreme case, where some companies in this industry can easily be considered to be in a bubble, and it is consequently not ideal to invest in this area.  I…

As with most frontier markets that I have observed, investing in companies in the consumer discretionary/staples sector offers the most rewarding opportunity, yet the majority of stocks in this industry have above average valuation.  Extra effort is needed to filter to find stocks in this sector that have reasonable valuation.  Pakistan is an extreme case, where some companies in this industry can easily be considered to be in a bubble, and it is consequently not ideal to invest in this area.  I…

Accessing Pakistan's Consumption Growth at Reasonable Value: Sugar Mills

Pakistan

JDW Sugar Mills, Ltd. produces and sells crystalline sugar. The Company is located in District Rahim
Yar Khan, Pakistan, and formerly named United Sugar Mills Limited.

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Jdw Sugar Mills (JDWS PA)

Pakistan Inflation Review - Dec 2016

Consumer Price Index (CPI) inflation for Dec 2016 stood at 3.7% YoY as compared to 3.8% in Nov 2016. Inflation remained below market expectations....

Topline Securities

Accessing Pakistan's Consumption Growth at Reasonable Value: Sugar Mills

As with most frontier markets that I have observed, investing in companies in the consumer discretionary/staples sector offers the most rewarding...

Nomadic Equity

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